MPL Invites Investors to Apply for Land Lease at Addu Regional Free Zone

Maldives Ports Limited (MPL) has officially opened the opportunity for interested parties to submit Expressions of Interest (EOI) for space within the newly developed "Addu Regional Free Zone" in Addu City.

According to an announcement released by MPL today, businesses interested in cargo storage and various commercial activities within the Free Zone can submit their EOIs starting today. Following the EOI phase, shortlisted parties will be invited to submit detailed proposals, which must include the specific nature of their operations, the required land area, and proposed lease terms. Land allocation will be finalized based on a thorough evaluation of these proposals.
MPL has also publicized the rental tariffs for the Addu Regional Free Zone land. The rates for the Duty-Free Zone open land lease are as follows:

• Daily Rate: MVR 153.33 per 1,000 square feet (Excluding GST)
• Daily Rate: MVR 165.60 per 1,000 square feet (Including GST)
• Monthly Rate: MVR 4,600 (approximately USD 298) per 1,000 square feet (Excluding GST)

These plots are specifically designated for industrial activities, manufacturing, assembly, logistics, and warehousing operations. MPL advises interested businesses to submit their EOIs via email to business@port.mv. Along with the EOI, applicants are required to complete and submit a designated survey form prepared by the company.

The development of the Addu Free Zone was initiated earlier this year as part of the government's strategic efforts to diversify the Maldivian economy and establish a more resilient economic framework. Furthermore, to transform Addu City into a major commercial hub, it has been designated as the first primary zone for Small and Medium Enterprises (SMEs), encompassing areas such as Hulhudhoo and Meedhoo.